Pilsen is broadly within a single Assessor Neighborhood, 77141. Two other neighborhoods (77131 and 77132) overlap slightly with Pilsen but do not include a significant number of residential properties. Neighborhood 77115 (South Lawndale/Little Village) is also included for comparison.
Census tract 17031842900 is excluded from this section as it contains a small number of residential properties. A series of maps follows which shows trends by census tract in Pilsen. In 2019 and 2020, observe that central Pilsen has the highest average sales and west Pilsen has the lowest average ratios/rate of assessment. This then corresponds to west Pilsen receiving the highest average increase in assessed values in 2021 (81%).
Below is a map by tract which shows the average sale price of residential properties in 2019 and 2020.
Below is a map by tract which shows the average sale ratio for 2019 and 2020.
Below is a map by tract which shows the average percentage increase in assessed value by tract between 2020 and 2021.
Utilizing Census Tracts within Neighborhood 77141, Pilsen properties were split into sub-neighborhoods. Below is a map of census tracts and the sub-neighborhoods. Each of these groups represents about 1/3rd of the recent sales in Pilsen.
Sales per group per year. These groups have a small number of sales per year which is a limitation of this analyses.
The following graphs use sales from 2018 to 2022 to demonstrate market trends across the three groups.
The following graph shows information on the average ratio by quartile of sale price for each group and year. Note that in 2019 west Pilsen is assessed on average below central and east Pilsen but in 2022 it is assessed at the highest rate.
In order to determine if the Assessor should have used smaller delineations of Pilsen for the 2021 reassessment, we can only utilize information available for that reassessment (2019 and 2020 sales). A secondary analysis of the 2021 and 2022 sales against the 2021 reassessments is also included to evaluate the performance of the three proposed subgroups. The first group is shown as the 19/20 study and the second group is shown as the 21/22 study on the following graphs.
Census tract 17031843200 is excluded from this section as it contains a small number of residential properties.
Average Assessed Value by tract and percent change between 2020 and 2021.
Pilsen Sales (77141)
This report uses the following sources:
The Assessor does not currently release information on which sales they used to value homes (arm’s length transactions). The IAAO arm’s length standard was applied here.
In all cases, the Assessor mailed assessment value is used (assessments before any appeals). This would then not include the COVID-19 adjustments made by the Assessor in May 2020 which occurred to certified assessor values in tax year 2020.